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Mortgage Market Update
Tyler Cuzzort
Tyler Cuzzort
Thursday, October 22, 2026
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How much wealth is your home building? |
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Every week I share what's on my mind about mortgages, rates, and smart homeownership. This week, we're talking about one of the simplest—and most powerful—reasons to own.
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National Mortgage Rates · October 21, 2026
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Conventional 30-Year
7.30%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Home Equity
Your home builds wealth while you sleep
One of the best-kept secrets of homeownership is that every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. Unlike rent, that money stays yours. Over time, as you pay down your loan and your home appreciates, your equity grows into a genuine financial asset. That equity can become a lifeline later: you may be able to tap it through a home equity line of credit or loan if you face unexpected expenses, want to renovate, or need cash for other goals. The longer you own your home, the stronger this advantage becomes. If you're curious about how much equity you've built or how it might work for your situation, I'd love to walk you through the numbers. Let's talk about what your home equity means for your financial future.
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Tip of the Week
Test your sump pump before the rainy season by pouring water into the pit — a failed pump can lead to serious basement flooding.
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Tips for Homeowners
Rate Lock Strategy: When and How Long to Lock
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1.
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A rate lock guarantees your interest rate for a set period — typically 30, 45, or 60 days. Longer locks cost more but protect you if the process takes longer than expected.
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2.
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Lock when you're under contract and confident the deal will close. Don't lock before you have a signed purchase agreement — you're paying for protection you may not need.
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3.
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If rates drop after you lock, ask your lender about a float-down option. Some lenders offer this for a fee, allowing you to take advantage of a lower rate if the market moves in your favor.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Tyler Cuzzort team any time and we'll walk you through your options. |
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